However, if the thought of diving into tax forms and recalculations seems daunting (and it can be, given the complexities of tax laws and the potential for significant financial implications), reaching out to a CPA might be the smarter move.

Hey there, if you are in Cincy on the 15th, this a potential event to go to- https://www.eventbrite.com/e/carex-free-monthly-brokeragent-meet-up-tickets-807011241347?

Yes, there will be limitations of a TN financial institution as I live in CA, and I have read articles about potential tax and filling season issues if you bank outside the state where the business is registered. 

Nor are we fiduciaries – another red herring.Educate yourself about the licensing and usury requirements in your state before you speak to a potential lender, @Nicole Austin.

How does one research insolvent owners/find defaults and to pursue potential fire sales if/when said defaults occur?

Embrace this win-win opportunity and unlock your rental property's full potential with CityFHEPS tenants.

I’m learning everything and anything I can by all available means, but would love to find someone in the same market who would possibly be willing to share their wisdom and potentially walk me through an actual transaction (simply as a spectator on my end, or in any capacity you’d allow me to be involved in).

To ascertain the effect on your tax status, including any potential advantages and deductions, speak with a tax specialist.Consider how your condo purchase fits into your long-term real estate investment strategy.

If you are going to pay turbo tax rates, you will get turbo tax quality and potentially miss out on planning and strategy which is where the real value of a tax pro comes in IMHO

There are strategies for folks with short-term rentals (7 days or less) that could work here potentially.